iRobot Corp. announced on June 6, 2025, that it entered into Amendment No. 3 to its Credit Agreement on June 5, 2025. This amendment further extended the initial waiver period for its debt covenants to August 14, 2025.
In connection with this amendment, iRobot is required to make a $4 million cash prepayment, which will reduce the outstanding principal amount of its Term Loan. Additionally, the company issued warrants to its lenders to purchase an aggregate of 1,556,323 shares of common stock.
These warrants represent 5% of the company's outstanding common stock as of June 4, 2025, with an exercise price of $0.01 per share and an expiration date of June 5, 2035. This action underscores the ongoing efforts to manage liquidity and debt obligations amidst financial challenges.
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